With two months to go and 73,514 properties having changed hands through the TorontoMLS system, TREB President John Meehan announced today that 2005 is currently running just ahead of the 10 month total (73,202) recorded last year.

“The residential resale market could exceed the record 83,501 transactions seen in 2004,” said the President. “This year may well put in Toronto’s best annual performance ever.’ There were 7,174 properties sold in the month of October alone, Mr. Meehan went on to note. This is up eight per cent over October 2004, and the second best total for the month ever recorded. Meanwhile prices rose to $342,450, a one per cent increase over September and up six per cent over the $324,215 recorded in October of 2004.

Breaking down the total, 2,759 sales were reported in TREB’s 28 West districts and averaged $320,875; 1,262 sales were reported in the 14 Central districts and averaged $447,660; 1,443 sales were reported in the 23 North districts and averaged $371,659; and 1,710 sales were reported in TREB’s 21 East districts and averaged $274,966.

Click to view Residential Market Update – October 2005